Anne Ruston (SA, Liberal Party, Assistant Minister for Agriculture and Water Resources) Share this | Hansard source

Thank you, Senator Brown. Well, there are a number of things and factors here that have gone towards why the government believes that the Regional Investment Corporation is the appropriate mechanism by which to deliver loans into the rural and regional farm community.

Firstly, it is to come up with a nationally consistent approach to the delivery of these loans. Very often, when we find that we have a particular situation, it affects a number of states and territories. To have a consistent approach so that we don't have one farmer on one side of the fence and a farmer on the other side of the fence actually being treated differently is certainly seen to be a great advantage.

Secondly, because the corporation is going to be designed with the specific purpose of delivering this type of instrument then, obviously, the charter of the organisation, the mandate of the organisation and the authorities of the organisation will be particularly targeting the efficient and effective delivery of the activities that it is empowered to do.

And, obviously, lastly: as I mentioned to you earlier, an independently-established standalone organisation, like the proposal for the Regional Investment Corporation, delivers a level of transparency. Throughout the whole process of determination of the loan assets and the delivery of the programs transparency will be much greater under this particular organisation than is currently the case.